Lantana Entertainment Media Campus and Riot Games CEO Nicolo Laurent (EYRC, Getty)
Video game developer Riot Games will sublet the Lantana Entertainment Media Campus in Santa Monica.
The company, best known for its smash hit “League of Legends,” appears to be taking over the entire 131,000 square feet of Beachbody Company’s property on the property, according to Commercial Observer.
Riot Games’ new landlord will be Starwood Capital Group, which in 2019 purchased two buildings on the Lantana Entertainment Media Campus rented by Beachbody and Tennis Channel.
Former owners of the complex, Artisan Realty Advisors and Brightstone Capital Partners, sold a larger portion of the campus to Skydance Media for $ 320 million earlier this year. Starwood’s stake in Lantana is approximately 203,700 square feet.
The Beachbody Company had expanded its presence in Lantana from approximately 92,000 square feet to 131,000 with a 10-year lease in 2015.
The company went public in June with a SPAC merger and reported a loss of $ 12.4 million in the second quarter of this year, due to an increase in operating costs, according to Seeking Alpha.
Activision Publishing, a video game publisher and developer, also signed a sublease agreement in Santa Monica this week. The Activision Blizzard-owned company took up 90,000 square feet of Kite Pharma in the Pen Factory complex.
[CO] – Dennis Lynch
Contact Dennis Lynch